I am trying to figure this question out, however I am not sure where to begin, is there a specific formula that I should use? Any help would be appreciated
How much should you deposit at the beginning of each month for next 12 months in an account earning 3% per year compounded monthly to have $2,000 available from the account at the end of 24 months?
How much should you deposit at the beginning of each month for next 12 months in an account earning 3% per year compounded monthly to have $2,000 available from the account at the end of 24 months?